AT&T Taps High-Grade Bond Market to Sell $5 Billion of Bonds (3)

AT&T Inc. sold $5 billion of investment-grade debt on Thursday, weeks after it agreed to a $23 billion investment to expand its network.

The telecommunications company offered notes in four parts, according to a person familiar with the matter. The longest portion of the deal, a 29-year note, yields around 1 percentage point over Treasuries, the person said, asking not to be identified as details are private. Initial price talk was for around 1.3 percentage point over Treasuries.

Proceeds from the deal can be used for general corporate purposes, including upcoming debt maturities and pending acquisitions.

Bloomberg earlier reported ...